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Today's Rundown

Featured Story

Pfizer funnels $1B into protein degrader Arvinas, with more in biobucks on the table

Pfizer is doubling down on Arvinas. Three years after the duo inked a discovery and development deal, they’re adding commercialization to the mix. Pfizer is forking over $650 million upfront and investing $350 million in Arvinas to develop and commercialize the latter’s protein-degrading breast cancer drug.

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Top Stories

Biogen takes $542M hit over 2 failed gene therapy trials as Aduhelm revenue trickles in

Biogen had two high profile gene therapy failures in the middle of the Aduhelm craze, and now they’re going to pay for it. The company has reported $542 million in impairment charges over the two trial flops during second quarter earnings.

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Roche in ‘continued dialogue’ with FDA over Alzheimer’s prospect; culls early-stage assets in Q2 clearout

Roche is talking to the FDA about its Alzheimer’s disease drug candidate gantenerumab. CEO Severin Schwan declined to speculate on the outcome of the talks amid reports that it will join Eli Lilly in filing for accelerated approval in Alzheimer’s.

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Sanofi-Regeneron find narrower population of former smokers for COPD drug after mid-stage trial fails overall goal

Sanofi and Regeneron began their collaboration in chronic obstructive pulmonary disorder with a goal of targeting all patients, but now the data is pointing them towards former smokers. A phase 2a study, published in The Lancet Wednesday, failed overall but showed that the monoclonal antibody itepekimab lowered acute COPD exacerbations in former smokers.

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Seres Therapeutics’ microbiome therapy flops against placebo as shares go into freefall

There’s been precious little good news for Seres Therapeutics of late, and the woe continues today as it records another trial failure. Shares in the microbiome biotech fell more than 52% to $9.90 in early, premarket trading Thursday morning, from a prior close of $20.73.

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Tectonic snags Regeneron's Dupixent program leader as CMO

Marcella Ruddy, M.D., joins the pre-clinical biotech after leading the immunology and inflammation development pipeline at Regeneron as vice president for the global program. Ruddy guided Dupixent through "numerous approvals and initiations of many phase 3" trials across the U.S. and the world, Tectonic said. 

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Hemab raises $55M to target multiple rare bleeding indications

Hemab has raised $55 million to advance a pipeline of bispecific and monoclonal antibodies to treat patients with rare bleeding disorders. The series A round equips Hemab to take its lead program to clinical proof of concept while advancing its vision of becoming a hemostasis and thrombosis leader.

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Done deal: Johnson & Johnson and 3 distributors agree to historic $26 billion opioid settlement

Seven states unveiled a $26 billion settlement with Johnson & Johnson and the nation's three largest drug distributors—AmerisourceBergen, Cardinal Health and McKesson—to resolve thousands of opioid lawsuits.

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Pfizer's immunology ambitions delayed—again—as JAK drugs fall victim to FDA's protracted safety review

Pfizer and its JAK inhibitors are falling deeper down a regulatory rabbit hole the company itself opened up. The FDA has once again pushed back decisions for two Pfizer drugs, Xeljanz and investigational abrocitinib.

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Abbott returns to pre-pandemic growth, clocking 11% sales bump from 2019 sans COVID testing revenues

After more than a year spent devoting much of its attention to developing COVID tests, Abbott saw double-digit sales growth across its entire business in the second quarter of 2021, even without the inclusion of COVID-related earnings.

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Merck taps Evidation to use apps, wearables to detect early stages of Alzheimer's

Merck has tapped Evidation to explore whether data collected from smartphone apps and wearables can help to diagnose Alzheimer’s disease at an early stage. The two companies are partnering to research whether sensor data can be used to develop digital measures to accelerate drug development for the disease.

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Bayer's drug that turns a cancer-protective pathway toxic eradicates breast tumors in mice

An investigational breast cancer drug that Bayer licensed from Systems Oncology has shown strong antitumor responses against both primary and metastatic tumors in mice. The drug targets the anticipatory Unfolded Protein Response (aUPR), which normally protects cancer cells but turns toxic when over-stimulated with the drug.

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